Given: ( x is number of items ) Demand function: d(x) = 500-0.3x Supply function: s(x) = 0.5x (a) Find the equilibrium quantity (b) Find the producers surplus at the equilibrium quantity. Find the producers' surplus at a price level of $255 for the...
Find the Producer's Surplus and the Consumer's Surplus if the demand and supply are given below. Given the demand function d(x)=120-0.16x and supply function s(x)=0.08x. a. Find the equilibrium price and quantity. b. Find the consumer's Surplus. c. Find the Producer's ...